Maxperson
Morkus from Orkus
No. It provides zero further depth than having the exact same thing informalized in 3e. Picking a few traits out of a book gives you no more depth than my 3e character with the exact same traits.I am familiar with 3E, and while there are more mathematical objects, there really wasn't any more narrative depth in place. The formalizing of Background goes a lot further to provide character concepts than a slew of minor Feats.
What formalizing those things in a 5e book does is give new players help in coming up with those traits in the first place. It's an aid, not some magical "I can make more concepts now" power.